Difference between revisions of "Gold standard"
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| − | A [[monetary system]] in which [[currency|currencies]] are defined in terms of a given weight of gold. According to [[Keynesian economics]] a gold standard combined with a trade surplus leads to deflation | + | A [[monetary system]] in which [[currency|currencies]] are defined in terms of a given weight of gold. According to [[Keynesian economics]] a gold standard combined with a trade surplus leads to deflation. |
==Sources== | ==Sources== | ||
Revision as of 07:08, December 27, 2007
A monetary system in which currencies are defined in terms of a given weight of gold. According to Keynesian economics a gold standard combined with a trade surplus leads to deflation.